5,404 Shares in Textron Inc. (NYSE:TXT) Acquired by Allstate Corp

Allstate Corp purchased a new stake in Textron Inc. (NYSE:TXT) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,404 shares of the aerospace company’s stock, valued at approximately $413,000.

Other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Textron in the 4th quarter worth about $41,451,000. Boston Partners grew its stake in Textron by 4.7% during the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock worth $572,465,000 after buying an additional 333,127 shares during the last quarter. Brandes Investment Partners LP increased its holdings in shares of Textron by 19.4% during the fourth quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock worth $142,249,000 after buying an additional 302,712 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Textron in the fourth quarter valued at approximately $11,523,000. Finally, Wealthfront Advisers LLC boosted its holdings in shares of Textron by 384.7% in the 4th quarter. Wealthfront Advisers LLC now owns 175,347 shares of the aerospace company’s stock worth $13,412,000 after acquiring an additional 139,173 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the transaction, the vice president now owns 18,223 shares of the company’s stock, valued at $1,324,447.64. The trade was a 23.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.

Textron Price Performance

TXT opened at $72.48 on Thursday. The company has a fifty day moving average price of $74.06 and a two-hundred day moving average price of $79.90. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The firm has a market capitalization of $13.16 billion, a PE ratio of 16.82, a P/E/G ratio of 1.18 and a beta of 1.27. Textron Inc. has a 52 week low of $70.14 and a 52 week high of $97.34.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the company posted $1.60 earnings per share. The firm’s revenue was down 7.2% on a year-over-year basis. As a group, analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date was Friday, March 14th. Textron’s dividend payout ratio is currently 1.86%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Bank of America cut Textron from a “buy” rating to a “neutral” rating and dropped their price target for the company from $110.00 to $85.00 in a report on Friday, January 24th. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Citigroup lowered their price objective on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Finally, TD Cowen upgraded shares of Textron to a “hold” rating in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Textron presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

About Textron

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.